The five African nations heading to Qatar for the 2022 FIFA World Cup were confirmed on Tuesday night. Cameroon, Morocco, Tunisia, Ghana and Senegal will represent CAF in the first ever November/December World Cup. All five qualifiers booked their places at Qatar 2022 by winning two-legged playoffs. Those playoffs turned out to be largely close affairs as…
Unlocking Africa’s oil and gas potential is now imperative against the backdrop of the war in Ukraine and the resulting crude, diesel, and gas supply crunch. This has rendered European dependence on Russian energy untenable, creating a major opportunity for Africa to position itself as a crucial option to increase the supply to the global energy markets. However, significant challenges remain for the continent’s hydrocarbon producers to suddenly ramp up their production due to infrastructure, finance, and technology deficits.
Countries with major LNG resources, such as Nigeria, Angola, Libya, and Algeria, suffer from limited and underdeveloped pipeline networks, refineries, jetties, terminals, and ports. Additionally, incentivizing foreign investment is often problematized by a host of risk factors, including political instability, local insecurity issues and financial institutions shifting investments from fossil fuels to renewables. Finally, securing the latest technology to facilitate local content development has proven cost prohibitive given the reliance on foreign intellectual property and the continual brain drain of key local human capital.
All the above issues will be discussed at the 8th Africa Petroleum Congress and All the above issues will be discussed at the 8th Africa Petroleum Congress and Exhibition (CAPE VIII) taking place from 16–19 May 2022 in Luanda, Angola. The congress is organized by the African Petroleum Producers Organization (APPO), the government of the Republic of Angola (for the first time), and AME Trade Ltd. The three-day event will be centered around the theme of “Energy Transition: Challenges and Opportunities in the African Oil and Gas Industry,” and assemble experts from the national, regional, and international energy and oil and gas industries to deliberate the challenges and opportunities of the energy transition and the future of the oil and gas industry in Africa.
CAPE VIII will unfold against the recession of the global pandemic that exacerbated record production declines across African hydrocarbon producing countries from 2020 to 2021. The annus horribilis was compounded by under-investment in exploration activities, leaving several of the continent’s biggest energy players struggling to cope with the post-lockdown surge in demand for hydrocarbons. Fortunately, APPO’s ambition to establish the continent as an energy hub regained significant headwind with a stellar upstream development outlook for 2022 and beyond.
The congress will be the ideal platform for Africa’s leading oil and gas producers to confront the foregoing challenges and engender solutions to maximize its oil and gas resources. Amid the drive by developed economies towards decarbonization and net-zero policies, attending energy stakeholders will have the opportunity to reinforce the case for regional integrated supply chains and pooling resources to leverage the catalytic power of hydrocarbons in a sustainable manner.
Supported by countless multinationals across the energy value chain and national oil companies, CAPE VIII will feature illuminating insight from a range of illustrious keynote speakers, who will mold the future landscape of energy in Africa and beyond.Source: AME Trade Ltd
KAMPALA, Uganda — Ugandan President Yoweri Museveni recently remarked that Russia’s war on Ukraine should be seen in the context of Moscow being the “center of gravity” for Eastern Europe.
His son, Lt. Gen. Muhoozi Kainerugaba, was more forceful, declaring that most Africans “support Russia’s stand in Ukraine” and “Putin is absolutely right!”
Amid a worldwide chorus of condemnation, much of Africa has either pushed back or remained noticeably quiet. Twenty-five of Africa’s 54 nations abstained or didn’t record a vote in the U.N. General Assembly resolution earlier this month condemning Russia.
The reason? Many nations on the continent of 1.3 billion people have long-standing ties and support from Moscow, dating back to the Cold War when the Soviet Union supported anti-colonial struggles.
Those relations have tightened in recent years: As U.S. interest in Africa appeared to wane under President Donald Trump’s administration, Russia — along with China — expanded its influence, enlarging its economic footprint to include everything from agricultural programs to energy plants. In 2019, dignitaries from 43 African nations attended a summit with Russia, which also has become the dominant exporter of weapons into sub-Saharan Africa, according to the Stockholm International Peace Research Institute.
DAKAR, March 18 (Reuters) — A subsea cable owned by Google (GOOGL.O) that promises to double internet speeds for millions in Africa arrived in Togo on Friday, the company said, the latest step in a multi-year project to provide cheaper access to users across the continent.The Equiano cable, the first of its kind to reach Africa, has wound its way from Portugal and will double internet speed for Togo’s 8 million residents, Google said in a statement.That may be a taste of things to come for other countries set to benefit in a region where internet use is rising fast but where networks are often cripplingly slow and are a drag on economic development.Register now for FREE unlimited access to Reuters.comRegisterThe new line will also make land in Nigeria, Namibia and South Africa, with possible branches offering connections to nearby countries. It is expected to start operating by the end of the year.Sub-Saharan Africa is the world’s least-connected region, with around a quarter of the population still lacking mobile broadband coverage compared to 7% globally, according to a 2020 report by GSMA Intelligence.Most countries in West Africa are at the bottom of a World Bank global ranking on internet penetration. read more Togo will be the first to benefit. The cable is expected to reduce internet prices by 14% by 2025, according to an Africa Practice and Genesis Analytics assessment commissioned by Google.Google said the cable will indirectly create 37,000 jobs in Togo by 2025 and boost GDP by $193 million.Register now for FREE unlimited access to Reuters.comRegisterReporting by Sofia Christensen; Editing by Edward McAllisterOur Standards: The Thomson Reuters Trust Principles.
An African billionaire is reportedly close to launching a bid for Chelsea after outgoing owner Roman Abramovich recently announced the club was for sale.
Report: Tuchel Makes Final Decision On Chelsea Future
According to the Daily Mail, Ghanaian businessman Bernard Antwi Boasiako has confirmed he is eager to buy the London giants amid the ongoing crisis at Stamford Bridge.
Last week, the UK government imposed major sanctions on Russian-Israeli oligarch Abramovich, who has been Chelsea’s owner since 2003.
His relationship, however, with Russian president Vladimir Putin has landed him and other mega-rich Russian businessmen in hot water in England, with the billionaire currently thought to be in the process of selling the club.
Below are the 10 highest-paid at Chelsea:
Rumours recently emerged that Boasiako, who made his billions being a goldmine owner, was exploring an offer for the Premier League giants due to his fond feelings towards the Blues.
A spokesperson for the wealthy business has since appeared to confirm his interest: “Bernard Antwi Boasiako is exploring a potential offer for Chelsea. Discussions with various parties involved in the sale have taken place.
“Chelsea has a lasting legacy in Africa, players like Didier Drogba and Michael Essien are legends of the club; the opportunity to enhance the club’s reputation in Africa is a very tempting prospect.
“Restoring stability and ensuring there are no job losses are among the priorities.”
Below is where Abramovich currently ranks among the wealthiest Premier League club owners:
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A vertical gas flaring furnace is seen in Ughelli, Delta State, Nigeria September 16, 2020. REUTERS/Afolabi Sotunde/FilesRegister now for FREE unlimited access to Reuters.comRegisterHOUSTON, March 9 (Reuters) — Developing countries should not have to target renewable energy sources and turn away from fossil fuels, Nigerian and Equatorial Guinea energy officials said on Wednesday, joining other emerging oil-producing nations reluctant to embrace the global energy transition trend.Emerging economies must contend with higher fuel costs at a time when millions lack access to reliable energy sources while also dealing with extreme climate events.Some 900 million people in the world, most of them in Africa, still have no access to energy for basic needs, Nigeria’s oil Minister Timipre Marlin Sylva said during the CERAWeek energy conference in Houston.Register now for FREE unlimited access to Reuters.comRegister“We are still in transition from firewood to gas,” Sylva said. “Please allow us to continue with our own transition.“Equatorial Guinea Minister of Mines and Hydrocarbons Gabriel Obiang Lima echoed those concerns, saying pressure over renewables is “very unjust”, with a discussion on how to transition only possible after the energy security crisis is over.The 38 members of the Organisation for Economic Co-operation and Development (OECD), some of the richest countries worldwide, along with Russia, China and India, account for more than two-thirds of the world’s oil demand. The rest, which includes Africa, most of Asia and Latin America, accounts for just 31%, according to OPEC data.“Every emerging economy has to have the right to access reliable, safe energy,” said Tengku Muhammad Taufik, president and CEO of Malaysia’s state-owned Petronas.Other countries with oil discoveries still in development, including Ghana, Guyana and Suriname, also have said they cannot be expected to give up the chance to benefit from oil and gas that helped build more developed economies.“They want all of us, including those of us without food, to carry the burden of transition,” Nigerian National Petroleum Corporation (NNPC) general manager Bala Wunti said.Nigeria now faces a double blow from high prices of gas for cooking that it imports and lack of investment in its oil industry, Sylva said, as banks and funds have been pushing to restrict investment in oil globally to cut greenhouse gas emissions and fight climate change.Nigeria has had to cut oil production from 1.8 million barrels per day (bpd) to less than 1.5 million bpd due to lack of financing to maintain its facilities, Sylva said.That lost production could have helped contribute to global supply as the world now seeks alternatives to Russian oil after buyers halted purchases over its invasion of Ukraine, he said. Russia calls its actions in Ukraine a “special operation”.Investors backing renewable fuels have cut financing for oil projects, reducing production of oil, gas and coal faster than renewable sources of energy could replace them, pushing prices up, he said.“It was expected we were going to arrive at this point where we have an energy crisis,” Sylva said. “There is a gap.“Register now for FREE unlimited access to Reuters.comRegisterReporting by Sabrina Valle; Editing by Kenneth Maxwell and David GregorioOur Standards: The Thomson Reuters Trust Principles.
The Turkish president wants to boost business ties with African countries.Turkey’s president has promised to boost relations with African countries as he visited the Senegalese capital Dakar during a four-day tour of Central and West Africa.
“We will continue to enhance our relations with African countries on the basis of sincerity and solidarity,” Recep Tayyip Erdogan said on Tuesday during a joint press conference with his Senegalese counterpart Macky Sall.
“We exchanged ideas on how we can further advance our relations in every area,” he said. “We once again gladly observed that we share the same determination to deepen our cooperation.”
In 2021, the volume of bilateral trade between Turkey and Senegal reached $540m. Erdogan has said the goal is to bring the figure to $1bn.
The Turkish Cooperation and Coordination Agency (TIKA), which “has since 2007 completed 186 projects in Senegal with a total value of $12m, is determined to maintain its activities,” he said.
Sall praised Turkish companies that have initiated various investment projects in the country and said investments between the two countries should increase even more.
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The Turkish president is set to attend Wednesday’s opening ceremony of the Dakar Olympic Stadium, which was constructed by a Turkish company.
Erdogan, who set out on Sunday for the tour, will also visit the Democratic Republic of the Congo and Guinea-Bissau.
In Dakar, the Turkish president noted that the 3rd Turkey-Africa Partnership Summit, held in Istanbul in December, set out a roadmap in Turkish relations with Africa for 2022 to 2026.
Leaders from more than a dozen African countries attended the summit, highlighting Turkey’s expanding influence on the continent.
Since its 2019 intervention in the Libyan civil war, Istanbul has steadily expanded its African footprint as it seeks to replace Western influence on the continent.
The European Union has sought to counter both Turkish and Chinese influence, positioning itself as “Africa’s partner of choice” during a summit with the African Union earlier this month.
“The European Union is the first trading partner and the first investor in Africa,” Ursula von der Leyen, president of the European Commission, said after the two-day summit, which drew to a close on February 18. “Indeed, we need a stronger partnership between us.”
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Turkey is an important member of the G‑20 platform and the 13th largest country in the world by purchasing parity, President Recep Tayyip Erdoğan said on Feb. 21, underlining the strength of the Turkish economy despite global difficulties.
“Our economy is resilient to global shocks. We grew our economy by five percent every year despite the instability in the region,” Erdoğan said, speaking at a business forum during his visit to the Senegalese capital Dakar as part of his four-day trip to Central and West Africa.
Turkey will see a more successful year in growth in 2022 as its growth rates approach double digits, Erdoğan stated.
Senegal is an export gateway to West Africa, Erdoğan said, noting cooperation in the fields of agriculture, tourism, food and health will be beneficial for the entire region.
Turkey’s policy for “opening” to Africa was successfully completed and turned into a partnership policy with Africa in 2013, he said, emphasizing that ongoing projects with African partnerships are based on equal partnership and mutual benefit.
Ankara will continue to enhance its relations with African countries based on sincerity and solidarity, Erdoğan said during a joint press conference with his Senegalese counterpart, Macky Sall.
The bilateral trade volume between Turkey and Senegal reached $540 million in 2021, the president said, noting that Turkey’s aim is to increase this figure to some $1 billion soon.
He added that Turkish firms in Senegal carry out operations in the fields of energy, steel production, health care, food industry, ready-mixed concrete production and gold processing.
The Turkish Cooperation and Coordination Agency (TİKA) has finalized 186 projects in Senegal with a total value of $12 million since 2007, Erdoğan said. The Turkish Maarif Foundation provides education for 287 students at 13 schools in the country, he noted.
He thanked Senegalese authorities for their support in Turkey’s fight against FETÖ. “We have no doubt that this support and solidarity will continue,” he said.
Erdogan, Diplomacy,
WASHINGTON DC
President Joe Biden’s administration announced on Jan. 1 that it had excluded Ethiopia, Mali and Guinea from a U.S.-Africa trade agreement, saying the actions of the three governments violated its principles.“The United States today terminated Ethiopia, Mali and Guinea from the AGOA trade preference program due to actions taken by each of their governments in violation of the AGOA Statute,” the U.S. Trade Representative (USTR) said in a statement.The African Growth and Opportunity Act (AGOA) was put in place in 2000 under the administration of former president Bill Clinton to facilitate and regulate trade between the United States and Africa.But the United States is “deeply concerned by the unconstitutional change in governments in both Guinea and Mali,” the statement said.It also voiced concern about “gross violations of internationally recognized human rights being perpetrated by the government of Ethiopia and other parties amid the widening conflict in northern Ethiopia.”“Each country has clear benchmarks for a pathway toward reinstatement and the administration will work with their governments to achieve that objective,” the USTR said.Under the AGOA agreement, thousands of African products can benefit from reduced import taxes, subject to conditions being met regarding human rights, good governance and worker protection, as well as not applying a customs ban on American products on their territory.By 2020, 38 countries were eligible for AGOA.